Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 5661 - 5670 of 10063 questions.

Can My Wife Start Collecting Her Benefits Without Impacting What She'll Later Receive In Spousal Benefits?

Just finished your book and I'm a converted break even analyst. I plan on waiting to age 70 to collect. However, I couldn't find an answer to this question; My wife's earned benefit is less than half what she'll receive as a spousal benefit when I retire at 70. She is a year older than me. Can she start collecting her own benefit at 62 (or 66, 8 mo.) without impacting the spousal benefit she can receive when I start collecting at age 70? I read all about "deeming" but she's can't claim a spousal benefit until I start collecting at age 70, right?

Hi,

. . . Read More

Category: Spousal Benefits
Posted: Aug 30 2018 - 6:17am

Is My Friend Eligible For Disability?

My friend took early retirement (62). He recently became ill which messed with his mind. The DRs agree he is disabled. Is he eligible for disability?

Hi,

I can't tell you whether or not your friend would be approved for Social Security disability (SSDI) benefits, but it sounds like he should probably apply and find out. To be eligible, your friend must meet the insured status requirement for SSDI and be determined to be unable to work due to a medical impairment.

To be insured for SSDI your friend would need to have at least 20 quarters of . . . Read More

Category: Disability Benefits
Posted: Aug 30 2018 - 5:55am

Can You Explain How Widow's Benefits Are Calculated?

Can you please explain how the widow's benefits are calculated.

Thank you,
Tima

Hi Tima,

I really couldn't fully explain the computation of widow's benefits without writing for days. I can tell you that in most cases unreduced widow's benefits are paid at a rate of 100% of the amount that the deceased spouse would have been receiving based on their own earnings if they were still alive. However, widow's benefits are reduced for age if the widow starts drawing them prior to full retirement age (FRA). And, if the deceased spouse drew . . . Read More

Category: Widow's Benefits
Posted: Aug 29 2018 - 11:45am

What Would You Advise?

Larry, I contacted SSA concerning military credits and was told there is no way to verify that I am getting the credit. I did verify my reported SS wages from W2 forms, and they are the same as on SS web site estimate, no difference showing credit. below is a transcript of my conversation with SSA concerning same. Please advise, Thank You!

Hi Brian,

I didn't post your transcript because it's so lengthy. All I can tell you is that if all of your active military service was during the period 1968-2001, your deemed military wages (DMW) should have been . . . Read More

Category: Deemed Military Wages
Posted: Aug 29 2018 - 11:20am

Is It True That I Can't File For Widow's Benefits Because I Was Born In 1956?

Can I apply for Widow's benefits at age if I was born in 1956?
I am still working and turned 62 this year. I wanted to file for widow's Benefits first and then switch to my at age 70.
I was told I would not be able to do this. My husband passed away a few years ago at age 71.
He had been collecting SS since he was 64. My SS will be higher then the widow's benefits at age 65, but it sill makes since to let my grown more until 70. If I am in good health.
I was told it had something to do with the year I was born 1956. The widow's benefits changed and . . . Read More

Category: Filing Options
Posted: Aug 28 2018 - 4:33pm

Will The Fact That I Receive Divorced Spousal Benefits From CSRS Cause My Social Security Benefits To Be Reduced?

After reading Get What’s Yours that you “co-authored”, i have the following question: I am 64, divorced at 60. I receive a portion of my ex’s CSRS pension (he is 77) as he worked for the feds most of his career. His ss payments are low due to not much covered work, so I have decided to wait till 70 and claim my benefits based on my own earnings record (yearly ss report states around $1400/month) without any spousal “additions.” My question is this: will the fact that I am receiving some pension through his csrs retirement (currently receive just over $1500/month) cause the ssa . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Aug 28 2018 - 1:31pm

Can My Friend Still Get Divorced Spousal Benefits If She Remarried Her Ex And The Remarriage Only Lasted 2 Years?

I am asking for a friend. She is age 68. Wife was previously married to "Bob" for over 10 years. Bob and wife divorced and remarried but now two years later are getting a divorce. Can she still get Bob's social security based on their prior 10 +year marriage or will she lose Bob's social security because her second marriage to him was for only 2 years?

Hi,

Yes, it sounds like your friend would meet the duration of marriage requirement for divorced spousal benefits on 'Bob's' record. As long as a person's marriage lasts for at least 10 consecutive . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 28 2018 - 9:53am

Is It Worth Waiting Until Age 70 If I Can't Get Accurate Estimates?

My wife filed and suspended social security at age 66. I filed for spousal on her filing and am receiving spousal but am still planning on working to age 70. Someone tried to file on my Social security and after contacting social security before it went through, they have effectively blocked access to the social security web site to do any calculations. we both want to start drawing when we turn 70 my wife in 2 years and myself in 3 years . How can i find out estimated benefits since we both have filed for social security if it is worth waiting if i can't get accurate estimates . . . Read More

Category: Filing Strategies
Posted: Aug 28 2018 - 9:24am

Does Social Security's Income Capping Go Away When I Reach My Full Retirement Age?

Hi Larry et al...!
For completely unexpected chronic unemployment and health reasons, I started taking Social Security Benefits at age 62 years old. As expected, any income earned during from age 62+ was capped at around $15k-$16k per year. Does this income capping go away when I reach my full retirement age of 66 years old?
Many thanks, in advance, for your time and consideration!
Best Regards,
LEE

Hi Lee,

Yes. In fact even before you reach your full retirement age (FRA) not all income is limited, only earned income. . . . Read More

Category: Earnings Test
Posted: Aug 27 2018 - 9:03am

Could Our Getting Married Affect My Husband's Benefits?

Hello, my man is a US citizen, he is 64 years old and he is on ss benefits. I am a citizen of the Russian Federation I am 32 years old and I do not work. Can our merriage affect on his s.s. benefits?

Hi,

I'd need to know what type of Social Security benefits your husband-to-be is drawing in order to give you a definitive answer. But, if he's getting retirement benefits based on his own work record or survivor benefits on the record of a deceased spouse or ex-spouse, then a marriage would have no effect on his benefits. The fact that you aren't a U.S . . . Read More

Category: Miscellaneous
Posted: Aug 26 2018 - 4:15pm

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